DeFi & Ethereum News

2023-02-13 06:34:02 Tron Generated $48 Million in Revenue in Q4, 2022: Research

Messari revealed that Tron’s financial results in Q4 outperformed those from Q3, while user transactions were also on the rise.According to figures provided by Messari, the decentralized digital platform – Tron – made a revenue of $47.9 million in the last quarter of 2022, a 25% increase compared to Q3.

In its most recent research, Messari outlined that 2022 has been a “rollercoaster” year for the cryptocurrency sector. Unfavorable macroeconomic conditions took their toll during the first months, while the crash of Terra in the spring intensified the problems. The failure of the once-prominent FTX added to the drama, causing a market crash and undermining the reputation of the industry. The Justin Sun-spearheaded platform generated almost $48 million in revenue during that period, 25% more than in Q3.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-12 06:35:04 Uniswap DAO Supports Deploying Uniswap V3 On BNB Chain

The final vote for the planned deployment of Uniswap v3 on the BNB Chain has been completed by Uniswap DAO. Andreessen Horowitz (a16z) voted against the proposal, deploying 15 million votes in the process. The deployment is expected to be executed after 14:08 UTC on February 12.voted in favor of the proposal.

The proposal to install Uniswap V3 on the BNB Chain was authorized by the Uniswap DAO through a vote. About 66% of the voting power voted in favor of the plan. Robert Leshner, the creator of Compound Finance, and ConsenSys, an Ethereum software company, both had significant voting influence and supported the motion. While this was going on, the titan of venture capital, Andreessen Horowitz (a16z), cast 15 million votes against the proposition. They promoted a bridge-neutral approach in its place. a16z, for its part, preferred LayerZero over Wormhole as the winner.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-11 06:12:02 Umami Finance token crashes by over 50% as CEO dumps holdings

Decentralized finance protocol Umami Finance is in disarray as community members are unsure of the project’s future.Several members of the Umami team resigned in a move designed to push the project “back towards decentralization and a DAO structure,”.

The messages alleged that the protocol’s CEO Alex O’Donnell dumped his tokens on retail holders — blockchain security firm Peckshield confirmed this. On-chain data shows that the address allegedly belonging to the CEO dumped over 10,000 UMAMI tokens in the last 24 hours for thousands of dollars in several transactions. The dumpings led to the UMAMI token crashing by over 50% in the last 24 hours to as low as $4.56 from a high of $22, according to CoinMarketCap data.The token has slightly rounded to $15.38 as of press time.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-10 07:39:02 Bitkraft, Fabric Ventures lead $6.5 million round into web3 loyalty platform

Venture capital firms Bitkraft and Fabric Ventures led a $6.5 million round into Cub3 (pronounced Cube), a customer loyalty platform that aims to automate web3 rewards based on participants' real-world activities. CMT Digital, Red Beard Ventures and Geometry Labs among others.

Currently supporting the Ethereum and Polygon chains, the Cub3 platform enables brands to create loyalty programs that reward users in tokens for completing certain actions. These could be tweets about a specific brand or uploading a video of themselves dancing to TikTok. These can be traded for perks such as exclusive content or discounted merchandise. "Our clients are anyone who wants to improve the way they engage their users, customers, or fans," said CEO Linc Gasking in a written interview with The Block.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-09 07:39:02 Chorus One brings MEV protocol to Solana

The Solana blockchain may see a new open-source approach to maximal extracted value (MEV), according to a white paper produced by blockchain protocol architect, Chorus One. The version of MEV for Solana by Chorus One is in the prototype stage, and the company doesn’t intend to deploy.

The Solana-MEV client is a public good. Chorus One will not explore the model commercially,” Chorus One research analyst Thalita Franklin told The Block. On the Ethereum network, the practice of MEV sees blocks of transactions rearranged in order to impart the greatest value to validators. This is facilitated by searchers who derive the most valuable order of transactions from Ethereum’s mempool, a sort of holding pool on the network where unconfirmed transactions await validator processing.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-08 06:02:02 Bitcoin miners Hut 8 and US Bitcoin merge to form new US-based entity

Bitcoin miners Hut 8 and US Bitcoin (USBTC) are merging to form a new company called Hut 8 Corp, which will be based in the United States. Hut will have a total self-mining capacity of 5.6 EH/s, according to a press release. The new company will have access to 825 megawatts across six sites with self-mining, hosting and managed infrastructure operations.

The merger is pending court and regulatory approvals, and will be put to the vote in a special meeting of Hut 8 shareholders — also requiring consent from USBTC stockholders. This is expected to happen in the second quarter. Meanwhile, Hut 8 will give USBTC a bridge loan ranging from $6.0 to $6.5 million. a combination of selling the Bitcoin we mine, selling from our stack and/or exploring various debt options, as agreed under the terms of the Business Combination Agreement," Leverton also said.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-07 06:10:06 FTX Asks Politicians To Return About $93 Million SBF Donated At The End Of February

The FTX Group said on Sunday that it sent “secret letters” to politicians. Accordingly, FTX asks politicians to return the money received from Sam Bankman-Fried (SBF) contributions during political campaigns, according to Coindesk. After the collapse of FTX, celebrities tried to erase their relationship with the head of SBF.

In a press release, the debtors said they “have the right” to attempt to force repayment of the debt plus interest through court action. By creditors’ estimates, SBF’s political contributions amounted to $93 million to a wide range of DC lawmakers and causes across the political spectrum. One in three members of the current US congress has received a donation from the Bankman-Fried orbital. It was a massive influence campaign that crossed party lines. his companies were also required to return the money received from the SBF.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-06 05:50:05 a16z “Dominates” The Vote To Install Uniswap On BNB Chain With 15 Million UNIs

A Uniswap community poll to validate and select a cross-chain solution for this exchange on BNB Chain initially favored Wormhole. However, the final outcome will be quite uncertain and stated that a16z uses 15 million UNIs to “dominate” the vote.

Because a16z was unable to gather enough votes to support LayerZero at the Temperature Check stage, he made a fresh move in the official Uniswap voting. According to statistics from the on-chain voting platform Tally, a16z voted “opposed” to the request to implement Uniswap V3 on BNB Chain. This quantity of votes accounts for 15 million UNI tokens (the most votes currently cast), and the balance swiftly becomes skewed. Invest in the project in line with the decentralized governance criteria of Uniswap.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-05 06:34:02 FTM Soars 35% on the Week as Fantom Preps Stablecoin Relaunch

Over the past week, FTM has soared roughly 35%. Chatter around a new stablecoin for the project alongside a host of new updates have likely been the key motors behind the latest move. These developments also suggest that DeFi developer Andre Cronje’s return to crypto is much more than just a phase.

After saying goodbye to the game (again) last March, then returning in November, it now looks like the mind behind Yearn Finance and Keep3r (and numerous other high-profile projects) is rolling up his sleeves and getting back to work. He’s long been associated with the speedy layer-1 blockchain called Fantom, wearing the title of co-founder and architect of the Fantom Foundation, and now it appears he’s re-building the network’s native stablecoin, fUSD.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-02-04 06:01:02 Australia Strengthens Crypto Watchdogs In “Multi-Stage” Scam-Fighting Strategy

The Australian Securities & Investments Commission’s (ASIC) digital assets unit will grow in size, and “upping enforcement measures” will be one of the major improvements. As part of a “multi-stage approach” to cracking down on cryptocurrency and ensuring proper risk disclosures from crypto businesses.

The new regulations are meant to safeguard consumers interacting with cryptocurrencies, according to a joint statement released on February 2 by Australian Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones. The multi-stage strategy, according to the treasurers, would include three components: improved enforcement, improved consumer protection, and the creation of a framework for token mapping reform. The Australian Securities & Investments Commission’s (ASIC) digital assets unit will grow in size.

Source

https://t.me/DeFi_Ethereum Open / Comment